of course there is enough

    SLV

    Posted by googool on 17th of Aug 2008 at 12:37 pm

    of course there is enough gold and silver, paper gold and silver, that is. Just take a look at prospectus for GLD or SLV, they owe nobody anything, they are not even subject to any third party audits. Mybe they are fully backed by billion maybe not. Maybe I didn't understand the prospectus right.

    They, however, are great instruments of market price control. And  then we have the future market -- a world full of promises of future, and short of commitments of today. It sounds like business as usual alright, am I missing the point?

    I know bullion banks are active in future markets, shorting metal not recorded anywhere, but that still is a promise of delivery.

    If what is circulating is true, and the actual demand outstripping supply is really correct, it is a front runner ahead of strong south asian demand season for gold. Again, if (BIG WORD) that is the case, matt's COT data should point to a seasonal low for commercial shorts, and we shall see a bounce.

    On Friday, I called a dealer and asked for 5 one-ounce swiss gold bars, he had no problem accomodating me, we negotiated the price, and that was that. That was Friday, which seems like an eternity ago.

     

    BTW, I am also a CEF investor (not trader) because they are subject to third party audit, and I could understand their propectus

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